PSX Closing Bell: Shapeshifting

Jun 29, 2021 (MLN): After yesterday’s sell-off, the domestic equity market kicked off the day on a positive note due to the positive developments on the economic front where Govt. & IITFC signed a 3-year agreement of USD 4.5bn for the purchase of LNG, crude oil, refined petroleum products and urea.

However, the skeptical behavior of investors created selling pressure across the board with the benchmark index settling at 47,138, up by 0.29% after making an intraday high of 506 points during the session.

In the earlier session, investors’ sentiments tracked bullish momentum as speculation on finance bill approval remained optimistic. Furthermore, recent communication announcements on various stocks reflected positive triggers for the bourse during the day, with TRG leading the market to add 78.44 points to the index, market closing note by Aba Ali Habib said.

The Index traded in a range of 522.35 points or 1.11 percent of previous close, showing an intraday high of 47,508.82 and a low of 46,986.47.

Of the 96 traded companies in the KSE100 Index 63 closed up 30 closed down, while 3 remained unchanged. Total volume traded for the index was 205.46 million shares.

Sectors propping up the index were Technology & Communication with 89 points, Commercial Banks with 71 points, Food & Personal Care Products with 32 points, Cement with 22 points and Fertilizer with 17 points.

The most points added to the index was by TRG which contributed 78 points followed by HBL with 30 points, ENGRO with 21 points, UNITY with 20 points and MEBL with 18 points.

Sector wise, the index was let down by Oil & Gas Exploration Companies with 93 points, Chemical with 33 points, Power Generation & Distribution with 26 points, Oil & Gas Marketing Companies with 6 points and Textile Composite with 5 points.

The most points taken off the index was by PPL which stripped the index of 40 points followed by OGDC with 38 points, HUBC with 35 points, COLG with 29 points and HASCOL with 13 points.

All Share Volume decreased by 74.36 Million to 580.77 Million Shares. Market Cap increased by Rs.15.72 Billion.

Total companies traded were 406 compared to 416 from the previous session. Of the scrips traded 248 closed up, 131 closed down while 27 remained unchanged.

Total trades decreased by 6,839 to 163,660.

Value Traded decreased by 1.69 Billion to Rs.17.17 Billion

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